Thursday, May 10, 2018

Serica Energy price dips

Serica Energy shares (LSE:SQZ) have dipped massively, thus rendering invalid the short-term bullish bias in the market. There could be a rally attempt in the market, but price would go southward again, because a bearish signal has been generated in the market.

Price was forced to go below the lower Trendline as a result of a breakout in the market. The RSI period 14 is below the level 50. The bias on the market is now bearish.

Serica Energy would go towards the demand levels at 60.00, 50.00 and 40.00 within the next several months.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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